| Tue 26 Aug 2008, 16:34 | | TKG - Telkom SA Limited - Further Cautionary Announcement |
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TKG
TKG
TKG - Telkom SA Limited - Further Cautionary Announcement
Telkom SA Limited
Registration number: 1991/005476/06)
(ISIN number: ZAE000044897)
JSE and NYSE share code: TKG
("Telkom" or "the Company")
Further Cautionary Announcement
Telkom shareholders are referred to the cautionary announcement published on 2
June 2008 and further cautionary announcement published on 15 July 2008
regarding the receipt of a letter from a consortium comprising Mvelaphanda
Holdings (Proprietary) Limited, affiliated funds of Och-Ziff Capital Management
Group and other strategic funders ("the Consortium"). The letter from the
Consortium states that the Consortium is considering making an offer for the
entire issued share capital of Telkom subject to a number of pre-conditions,
inter alia, confirmation by the Telkom Board that it will unbundle Telkom`s
entire 50% stake in Vodacom as part of the offer.
The discussions with the Consortium are independent of the discussions with
Vodafone Group Plc ("Vodafone")which are referred to in a separate cautionary,
regarding the acquisition by Vodafone`s wholly owned subsidiary of a portion of
Telkom`s stake in Vodacom Group (Proprietary) Limited ("Vodacom"). The
discussions with the Consortium are still ongoing and shareholders are therefore
advised to continue to exercise caution when dealing in Telkom securities until
a further announcement is made.
In fulfilling its fiduciary responsibilities, the Telkom Board is committed to
concluding these discussions expeditiously.
26 August, 2008
Pretoria
Transaction Sponsor: J.P. Morgan Equities
Special note regarding forward-looking statements
Many of the statements included in this announcement constitute or are based on
forward looking statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995, specifically Section 27A of the U.S. Securities
Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of
1934, as amended. All statements, other than statements of historical facts,
including, among others, statements regarding our future financial position and
plans, strategies, objectives, capital expenditures, projected costs and
anticipated cost savings and financing plans, as well as projected levels of
growth in the communications market, are forward looking statements. Forward
looking statements can generally be identified by the use of terminology such as
"may", "will", "should", "expect", "envisage", "intend", "plan", "project",
"estimate", "anticipate", "believe", "hope", "can", "is designed to" or similar
phrases, although the absence of such words does not necessarily mean that a
statement is not forward looking. These forward looking statements involve a
number of known and unknown risks, uncertainties and other factors that could
cause our actual results and outcomes to be materially different from historical
results or from any future results expressed or implied by such forward looking
statements. We caution you not to place undue reliance on these forward looking
statements. All written and oral forward looking statements attributable to us,
or persons acting on our behalf, are qualified in their entirety by these
cautionary statements. Moreover, unless we are required by law to update these
statements, we will not necessarily update any of these statements after the
date of our most recent annual report on Form 20-F filed with the US Securities
and Exchange Commission (SEC), either to conform them to actual results or to
changes in our expectations.
Telkom SA Limited filed an annual report on Form 20-F with the US SEC, for the
year ended March 31, 2007 on July, 17, 2007. This annual report includes a
detailed description of risk factors that may affect its business. For further
information you should refer to the Form 20-F and other filings with the US SEC,
which are available on Telkom`s investor relations website at
www.telkom.co.za/ir.
Date: 26/08/2008 16:34:08 Produced by the JSE SENS Department.
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